Nomura Asset Management Co. Ltd. Purchases 2,495 Shares of Parker-Hannifin Co. (NYSE:PH)

Nomura Asset Management Co. Ltd. lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 37,800 shares of the industrial products company’s stock after acquiring an additional 2,495 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $23,883,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. West Branch Capital LLC bought a new stake in Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank increased its stake in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin during the 3rd quarter valued at $39,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Parker-Hannifin in the third quarter valued at about $50,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

PH stock opened at $677.74 on Wednesday. Parker-Hannifin Co. has a 1 year low of $435.77 and a 1 year high of $712.42. The firm has a market capitalization of $87.24 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.81 and a beta of 1.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The business has a 50 day simple moving average of $664.54 and a 200-day simple moving average of $592.42.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the company posted $5.96 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. TD Cowen increased their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Evercore ISI boosted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Barclays upped their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Jefferies Financial Group increased their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $704.88.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock worth $12,303,829 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.